You give up the right to a jury trial and cannot join or lead a class action lawsuit against Acorns — all claims must be pursued individually through arbitration.
This analysis describes what Acorns's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The waiver of jury trial and class action participation alters the procedural framework for dispute resolution by restricting proceedings to individual arbitration, which affects how and where claims can be adjudicated and the available remedies structure.
The updated terms clarify FDIC insurance protections for Acorns Checking depositors. The prior disclosure stated that Acorns Checking itself is not FDIC-insured; the updated language states that balances held with Lincoln Savings Bank or nbkc bank, including those in Acorns Checking accounts, are insured up to $250,000 per depositor through these member banks, with separate coverage for joint account owners. The updated terms preserve the disclosure that funds may be placed at other FDIC-insured depository institutions through a deposit network service. The revised ATM language specifies access to 'over 55,000 fee-free ATMs' rather than a general reference to the AllPoint Network.
View change record →This waiver prevents you from joining other Acorns users in a collective lawsuit, which is typically the most effective remedy when many people suffer small financial harms — such as unauthorized fees or systemic errors — from the same company practice.
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If, however, this Class Action Waiver is deemed invalid or unenforceable with respect to a particular Dispute...neither you nor Chegg will be entitled to arbitration of such Dispute.
the arbitration provider, National Arbitration and Mediation ("NAM"), shall not accept or administer any demand for arbitration and shall administratively close any arbitration unless the Party bringing such demand for arbitration can certify in writing that the terms...were fully satisfied.
Neither you nor we may elect arbitration of any claims seeking only individualized relief asserted by you or us in small claims court, so long as the action remains in that court and is not removed or appealed de novo...
"YOU AND ACORNS WAIVE ANY RIGHT TO A JURY TRIAL. YOU ALSO WAIVE ANY RIGHT TO PARTICIPATE AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS ACTION PROCEEDING. NOTHING IN THESE TERMS OF USE SHALL AFFECT ANY NON-WAIVABLE STATUTORY RIGHTS THAT APPLY TO YOU.Excerpt from Acorns's Terms of Service
(1) REGULATORY FRAMEWORK: Class action waivers in consumer financial services contracts are regulated under Dodd-Frank Act Section 1028 (CFPB arbitration rulemaking authority), FTC Act Section 5 (unfair or deceptive acts), and state consumer protection statutes …
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Coinbase's User Agreement includes a mandatory arbitration clause that most users may not have reviewed. Here is what the clause states and how the opt-out process works.
561 arbitration provisions across 197 platforms. ConductAtlas tracks how dispute resolution is being restructured across the internet.
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The waiver of jury trial and class action participation alters the procedural framework for dispute resolution by restricting proceedings to individual arbitration, which affects how and where claims can be adjudicated and the available remedies structure.
This waiver prevents you from joining other Acorns users in a collective lawsuit, which is typically the most effective remedy when many people suffer small financial harms — such as unauthorized fees or systemic errors — from the same company practice.
ConductAtlas has identified this type of provision across 205 platforms. See the full comparison.
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